How Does Your Credit Score Compare?

The current national average score is 680.  According to the credit bureaus:

  • There are 22 states, plus the District of Columbia, that have an average credit score below the national average.
  • There are 29 states that have an average credit score above the national average.

Average Credit Score by State that are below the National Average:

Texas 651 California 672
Nevada 655 Florida 673
Arizona 659 Colorado 674
New Mexico 663 Alaska 674
Louisiana 663 Indiana 676
South Carolina 665 Alabama 676
Oklahoma 666 Washington DC 677
North Carolina 667 Kentucky 677
Mississippi 668 West Virginia 679
Georgia 668 Tennessee 679
Arkansas 668 Michigan 679

Average Credit Score by State that are near or above the National Average:

Rhode Island 692
Kansas 682 New Jersey 693
Utah 683 Connecticut 694
Missouri 683 Nebraska 695
Illinois 684 Pennsylvania 696
Delaware 684 Wisconsin 699
Ohio 685 Maine 699
Oregon 686 Iowa 700
New York 686 Montana 701
Maryland 688 New Hampshire 703
Idaho 688 Massachusetts 703
Hawaii 688 Vermont 706
Virginia 689 North Dakota 706
Wyoming 690 Minnesota 707
Washington 691 South Dakota 710

 

The following statistics reflect the average use of credit by today’s consumers:

Number of Credit Obligations

On average, consumers have a total of 13 credit obligations on record at a credit bureau. These include credit cards and installment loans.  On average, 9 of the 13 are likely to be credit cards and 4 of the 13 are likely to be installment loans.

Past Payment Performance

Approximately half of all consumers have accounts reported as 30 or more days late on a payment. 23% have accounts reported with 90+ days overdue, and 20% have accounts closed by the lender due to default.

Credit Utilization

About 40% of credit card holders carry a balance of less than $1,000. About 15% have total card balances in excess of $10,000. Approximately 48% of consumers carry less than $5,000 of debt (excluding mortgages).  Approximately 37% carry more than $10,000 of non-mortgage-related debt as reported to the credit bureaus.

Total Available Credit

The average consumer has access to approximately $19,000 on all credit cards combined. Approximately 1 in 7 is using 80% or more of their credit card limit.

Length of Credit History

The average consumer’s oldest obligation is 14 years old. About 1 in 20 consumers have credit histories shorter than 2 years.

Credit Inquiries

The average consumer has had only one inquiry on his or her accounts within the past year. Fewer than 6% had four or more inquiries resulting from a search for new credit.

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